Swastik Apartments,
Sector-9, Rohini,
New Delhi -110085
Both
rep. by their GPA Holder
Shri
Sandeep Khurana,
S/O
Mr. Ramesh Chander Khurana ... Miyanpur,
Hyderabad
A.P
...........Appellant(s)
Versus
Busani
Rajsekhara Reddy
Rep. by
GPA Mr. Ram Reddy,
S/O
Yella Reddy
dated
28.09.2004, the assessee executed an agreement of sale -cum-
GPA in favour of M/s. Summit Enterprises for the part of
consideration assessee ... received from the builder in
pursuance to the development agreement -cum- GPA with
builder. Though the assessee executed the agreement of sale -
cum- GPA
same is as
under:-
"A copy of the irrevocable GPA executed in terms of paragraph 15 of the
agreement has been furnished ... falling to the developer's share. The other clauses in the GPA are not
relevant for our purpose. The GPA unequivocally grants
same is as
under:-
"A copy of the irrevocable GPA executed in terms
of paragraph 15 of the agreement has been furnished ... falling to the developer's share. The
other clauses in the GPA are not relevant for our
purpose. The GPA unequivocally grants
same is as
under:-
"A copy of the irrevocable GPA executed in terms
of paragraph 15 of the agreement has been furnished ... falling to the developer's share. The
other clauses in the GPA are not relevant for our
purpose. The GPA unequivocally grants
thereafter cancelled this agreement and entered into Development
Agreement-cum- GPA dt. 25.7.2007 in which there is no time limit for Op4 to
complete ... project. The complainant submits that clause 2.3 of the
Development Agreement-cum-GPA is against the principles of natural
justice.
In pursuance of development agreement
required to pay Rs. 30,50,36,525 as consideration
for obtaining GPA rights. Out of this, Rs. 13.50 crores was
towards reimbursement of cost ... land. On the same date, ECE Industries executed
another development agreement cum GPA in favour of M/s.
Janapriya Engineers Syndicate transferring
erred in holding the transaction under
development agreement-cum-GPA M/s. MAK
Projects (P) Ltd., as a transfer ... taxability of capital gains on
entering into Joint Development Agreement-cum-GPA with M/s.
MAK Power Projects Pvt. Ltd., on 15.12.2006. In view
Assessing
Officer noticed that as per the Agreement of Sale cum GPA registered
on 4.2.2004, the property consisted of land admeasuring 980 sq. yards,
with
Vinsri Infotech,
C/o Sri C Suresh, GPA Holder, Flat
No.501, Jayadarshini Arcade,
Road No.1, Alkapuri, Dilsukhnagar,
Hyderabad. . Assessee
Vs.
The Asst. Commissioner ... Hyderabad. . Revenue
Vs.
M/s Vinsri Infotech,
C/o Sri C Suresh, GPA Holder, Flat
No.501, Jayadarshini Arcade,
Road No.1, Alkapuri, Dilsukhnagar,
Hyderabad
